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November 29, 2021

Deutsche Bank expands South-east Asia team with three key appointments

By Verdict Staff

The wealth management arm of the German lender Deutsche Bank has reportedly made three strategic appointments to its South-east Asia team.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
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  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
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by GlobalData
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The bank has named Felicia Tan as director and team leader, Edmund Tee as vice-president, and Dita Darmawan as director, the Business Times reported.

Tan and Tee, whose appointments are effective from 22 November 2021, are working from the bank’s location in Singapore. They report to Deutsche Bank South East Asia group co-head Urs Brudermann.

Darmawan, who will assume his role on 25 November 2021, reports to Deutsche Bank South East Asia group co-head Ingrid Widjaya.

Tan joins the bank from BNP Paribas Wealth Management, where he was the director and team head.

Prior to that, she worked for about ten years at Credit Suisse, where she started out as relationship manager and progressed to director.

Tan, who has experience in managing high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients across South-east Asia, will primarily focus on catering to Deutsche’s wealth clients in Malaysia.

Tee, who has 17 years of experience in the banking and finance space, also joins Deutsche Bank from BNP Paribas Wealth Management.

At BNP Paribas, he served the role of vice-president, responsible for a portfolio of HNW individuals and corporations. He worked at CIMB Private Banking and Credit Suisse before joining BNP Paribas.

Darmawan joins the bank from UBS where she served as a director. Prior to that, she worked at Standard Chartered and Barclays Bank.

Commenting on the new appointments, Deutsche Bank Wealth Management Southeast Asia head Chow Shang-Wei said: “Their addition is part of our ongoing expansion strategy in South-east Asia, demonstrating our commitment to investing in more talents and resources to help achieve clients’ ambitions. We will continue to make strategic hires to support our clients with differentiated solutions that meet their evolving needs at all stages of life.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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